Western Digital Is Selling Sandisk Stock. Should You?

In a move that captured attention, Western Digital Corporation (WDC) announced selling down its remaining equity stake in SanDisk Corporation (SNDK) , the flash memory powerhouse it spun off last year. The company is executing a multi-billion-dollar secondary offering of SanDisk shares, involving a debt-for-equity swap with affiliates of J.P. Morgan and Bank of America. The transaction, which prices roughly 5.8 million shares at around $545 each for about $3.17 billion, is designed to accelerate deleverag ...